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Cost Control Quiz

Authored by Kristine Jewel Mercado

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University

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Cost Control Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does cost refer to in the context of business?

A method of cost control

A type of fixed cost

An increase in sales volume

A reduction in the value of an asset

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the food and beverage business, how is cost defined?

The value of assets owned

The total revenue generated

The expense incurred for goods or services

The profit made from sales

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When is the cost of a piece of meat incurred?

When it is ordered

When it is cooked, served, or spoiled

When it is purchased

When it is stored

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are fixed costs?

Costs that vary with sales volume

Costs that can be easily controlled

Costs that remain constant regardless of sales volume

Costs that are always high

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a fixed cost?

Labor costs

Food costs

Insurance premiums

Utility bills

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are variable costs?

Costs that do not change with sales volume

Costs that are always fixed

Costs that can be ignored

Costs that are directly related to business volume

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a directly variable cost?

Salaries of fixed personnel

Depreciation

Rent

Cost of food sold

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